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Question

x c Entries And Schedules Fi x C chegg Study I rn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSess; ook Show Me How Calculator atement of cash lows-Indirect method Labels and Amount Descriptions Instructions The comparative balance sheet of Livers inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec 31, 20Y3Dec. 31, 20Y2 Assets $626,10000$58519000 22863000208,060.00 617620 00 000 239 33000 Cash Accounts receivable (net) Inventories 641,03000, ? s levestments Land 328 160 00

Explanation / Answer

Cash flows from operating activities Net income $ 188,740.00 Adjustments for: Depreciation and amortization $   19,140.00 Gin on sale of equipment $ (39,470.00) Increase in trade receivables $ (20,570.00) Increase in inventories $ (23,410.00) Inecrease in trade payables $   19,030.00 Decrease in accrued libility $ (10,900.00) Cash generated from operations $    132,560.00 Cash Flow from Investing Activities Cash paid for purchase of land $   (328,160.00) Sale of Investment $     279,300.00 Purchase of Equipment $   (151,260.00) Net cash used in investing activities $ (200,120.00) Cash flow fromFinancing Activities Issue of shares $       63,000.00 Cash received in excess of share capital $     137,800.00 Dividend Paid (Note) $     (92,330.00) $    108,470.00 Net cash used in financing activities Net increase in cash and cash equivalents $      40,910.00 Cash and cash equivalents at beginning of period $    585,190.00 Cash and cash equivalents at end of period $    626,100.00 Note Dividend Paid Opening Dividend Payable $       18,680.00 Add: Dividend Declares $       96,700.00 Less: Closing Dividend Payable $     (23,050.00) $       92,330.00

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